For National Small Business Week: The Marketing Math that every Business needs to know about
This is about some marketing math that can help all kinds of businesses make a lot more money. The math is called "The Barrows Popularity Factor" and it will show you how you can actually quantify the relationship between your advertising and sales.
One of the things that businesses might want to take a look at right now, and especially during National Small Business Week, is some very easy-to-use marketing math that can help businesses of all kinds make a lot more money.
The math will show you how you can actually quantify the relationship between your advertising and sales and it will give you more of the information you need to make key marketing decisions with far less risk. Businesses of all kinds can use the math to help them increase their sales, increase their profit and decrease their risk.
The math is called "The Barrows Popularity Factor" and it was developed by Robert Barrows, President of R.M. Barrows, Inc. Advertising and Public Relations in San Mateo, California.
THE REASON THE MATH WORKS IS VERY SIMPLE:
The Barrows Popularity Factor is a mathematical equation that reduces the relationship between advertising and sales to its lowest possible common denominator...namely:
In mathematical terms, the formula looks like this:
The Barrows Popularity Factor=How much did you sell (in units) divided by/How much did you advertise? (in gross impressions)
The answer you get is a rate of return on gross impressions. (Gross impressions is the number of ads multiplied by the audience per ad.)
"Once you quantify your rate of return on gross impressions, then you can start using some additional math to help you determine the best way to spend your advertising budget," according to Barrows.
The math and how to use it are explained in a booklet he wrote called "The Barrows Popularity Factor" which you can download for $4.95 at www.barrows.com.
HOW CAN BUSINESSES USE THIS MATH AND WHY DOES IT WORK SO WELL?
Some of the questions that every business looks at regarding advertising are as follows:
1) How much should you spend on advertising?
2) How should you spend it?
3) What should you say?
4) What is the best media mix for your company and your advertising budget?
5) Which ads and which media are producing the best results?
6) Which media should you increase and by how much?
7) Which media can you decrease and by how much?
8) How is your competition spending their advertising budget?
9) How is your competition affecting the sales of your product and services?
...and a lot of other questions along these same lines.
"The answers to these kinds of questions are very complex and there is no way to quantify all of the intangibles that affect the sales of a product...intangibles like the demand for a product, the availability of product, the consumer's propensity to spend, whether you had a good sales force or a great sales force during the period of time of a specific promotion, and even the weather can't be quantified with cold, hard numbers...and all of these factors are intertwined,"
"Plus, everything about the product and everything that you do to promote a product, and everything in the marketplace that affects the sales of a product will be reflected in the 'Popularity' of your product...and that is the essence of 'The Barrows Popularity Factor.'" It quantifies the effectiveness of your advertising because it lets you measure the "popularity of a product and its promotion," and in doing so, it lets you quantify the relationship between your advertising and sales.
"In short, the easy-to-use math in 'The Barrows Popularity Factor' will allow you to test and compare your advertising copy and media, better, faster and less expensively. Plus, it will give you more of the information you need to help you fine-tune your entire marketing program to help produce much higher sales and profit, says Barrows, and any company that is trying to figure out the best way to spend their advertising budget should take a look at this math immediately. You can read the whole booklet in about an hour and the math is so easy to use that all of the calculations can be done by one person, in moments, with just a simple calculator,"
(NOTE TO EDITORS: News and media companies that sell advertising can also use this math to help them increase their advertising revenue because they can use the math to help them work with their clients to help them make their advertising much more effective. Plus, media companies can also use this math to help them plan their own advertising campaigns to help them increase their circulation and increase their audience.)
“Since one of the things about National Small Business Week is focusing on things that can help businesses grow, this math is something that every business should take a look at,” says Barrows. The math is universal and effective, and as they say in advertising... “It really works!” Plus, it can help businesses of all kinds make a lot more money.
Another thing that businesses and the media might want to focus on during National Small Business Week is the state of manufacturing in America and the state of manufacturing in the area in which you live. Is the state of manufacturing improving where you live, or is it declining? How many jobs have been lost? How many factories have been closed? How many schools have been shut down? Is the glass half-empty or half-full? What steps are being taken to help improve the economy where you live?
Along these lines, Barrows has also written a poem called "It used to be Made in America." The poem is about the loss of jobs and the consequences of the outsourcing of manufacturing to other countries. "It paints a vivid picture of conflicting economic forces," according to Barrows, and you can see the poem online at www.itusedtobemadeinamerica.com and also at www.madeinusa.us.com.
Barrows hopes to be able to develop the poem into some song lyrics and television projects that could help draw more attention to the need to start reviving manufacturing in America much more quickly.
In addition to doing advertising and public relations, Barrows is also a sculptor, songwriter, author and inventor. You can see some of his sculpture at www.barrows.com/
The invention is a video tombstone called "The Video Enhanced Gravemarker"
The songs he co-wrote are called "Big Bucks" and "Run For Office." You can hear free clips of these songs at www.barrows.com/
For additional information, contact Robert Barrows at 650-344-4405, www.barrows.com.